diff --git a/src/datastores/handlers/base.js b/src/datastores/handlers/base.js
index 070ebda8e8e2a..bd9f143547e28 100644
--- a/src/datastores/handlers/base.js
+++ b/src/datastores/handlers/base.js
@@ -147,7 +147,7 @@ class Playlists {
   static deleteVideoIdsByPlaylistId(_id, videoIds) {
     return db.playlists.updateAsync(
       { _id },
-      { $pull: { videos: { $in: videoIds } } },
+      { $pull: { videos: { videoId: { $in: videoIds } } } },
       { upsert: true }
     )
   }
diff --git a/src/renderer/components/ft-list-video/ft-list-video.js b/src/renderer/components/ft-list-video/ft-list-video.js
index fd58c6f67bfb9..cd1cd5880e1dd 100644
--- a/src/renderer/components/ft-list-video/ft-list-video.js
+++ b/src/renderer/components/ft-list-video/ft-list-video.js
@@ -144,6 +144,24 @@ export default defineComponent({
       return this.$route.name === 'history'
     },
 
+    favoritesPlaylist: function () {
+      return this.$store.getters.getFavorites
+    },
+
+    inFavoritesPlaylist: function () {
+      return this.favoritesPlaylist.videos.some((video) =>
+        video.videoId === this.id
+      )
+    },
+
+    favoriteIconTheme: function () {
+      return this.inFavoritesPlaylist ? 'base favorite' : 'base'
+    },
+
+    favoritesText: function () {
+      return this.inFavoritesPlaylist ? this.$t('User Playlists.Unsave from Favorites') : this.$t('User Playlists.Save to Favorites')
+    },
+
     inUserPlaylist: function () {
       return this.playlistTypeFinal === 'user' || this.selectedUserPlaylist != null
     },
@@ -729,8 +747,59 @@ export default defineComponent({
       showToast(this.$t('Channel Unhidden', { channel: channelName }))
     },
 
+    toggleSaveToFavorites: function () {
+      if (this.inFavoritesPlaylist) {
+        this.removeFromFavorites()
+      } else {
+        this.addToFavorites()
+      }
+    },
+
+    addToFavorites: function () {
+      const videoData = {
+        videoId: this.id,
+        title: this.title,
+        author: this.channelName,
+        authorId: this.channelId,
+        description: this.description,
+        viewCount: this.viewCount,
+        lengthSeconds: this.data.lengthSeconds,
+      }
+
+      const payload = {
+        _id: 'favorites',
+        videoData: videoData
+      }
+
+      this.addVideo(payload)
+      // Update playlist's `lastUpdatedAt`
+      this.updatePlaylist({ _id: 'favorites' })
+
+      showToast(this.$t('Video.Video has been saved'))
+    },
+
+    removeFromFavorites: function () {
+      const payload = {
+        _id: 'favorites',
+        videoIds: [this.id]
+      }
+
+      try {
+        this.removeVideos(payload)
+        // Update playlist's `lastUpdatedAt`
+        this.updatePlaylist({ _id: 'favorites' })
+        showToast(this.$t('Video.Video has been removed from your saved list'))
+      } catch (e) {
+        showToast(this.$t('User Playlists.SinglePlaylistView.Toast.There was a problem with removing this video'))
+        console.error(e)
+      }
+    },
+
     ...mapActions([
       'openInExternalPlayer',
+      'addVideo',
+      'removeVideos',
+      'updatePlaylist',
       'updateHistory',
       'removeFromHistory',
       'updateChannelsHidden',
diff --git a/src/renderer/components/ft-list-video/ft-list-video.vue b/src/renderer/components/ft-list-video/ft-list-video.vue
index 495b3464bffcf..685380e4fac4e 100644
--- a/src/renderer/components/ft-list-video/ft-list-video.vue
+++ b/src/renderer/components/ft-list-video/ft-list-video.vue
@@ -43,14 +43,32 @@
         :size="appearance === `watchPlaylistItem` ? 12 : 16"
         @click="handleExternalPlayer"
       />
-      <span class="playlistIcons">
+      <span
+        class="playlistIcons"
+        :class="{ inUserPlaylist }"
+      >
+        <ft-icon-button
+          v-if="!isUpcoming && playlistId !== 'favorites'"
+          :title="favoritesText"
+          :icon="['fas', 'star']"
+          class="favoritesIcon"
+          :class="{
+            alwaysVisible: alwaysShowAddToPlaylistButton || favoriteIconTheme === 'base favorite'
+          }"
+          :theme="favoriteIconTheme"
+          :padding="appearance === `watchPlaylistItem` ? 5 : 6"
+          :size="appearance === `watchPlaylistItem` ? 14 : 18"
+          @click="toggleSaveToFavorites"
+        />
         <ft-icon-button
           v-if="showPlaylists"
           ref="addToPlaylistIcon"
           :title="$t('User Playlists.Add to Playlist')"
           :icon="['fas', 'plus']"
           class="addToPlaylistIcon"
-          :class="alwaysShowAddToPlaylistButton ? 'alwaysVisible' : ''"
+          :class="{
+            alwaysVisible: alwaysShowAddToPlaylistButton || favoriteIconTheme === 'base favorite'
+          }"
           :padding="appearance === `watchPlaylistItem` ? 5 : 6"
           :size="appearance === `watchPlaylistItem` ? 14 : 18"
           @click="togglePlaylistPrompt"
diff --git a/src/renderer/components/watch-video-info/watch-video-info.js b/src/renderer/components/watch-video-info/watch-video-info.js
index 2a123929937e0..b2f7d0ddfcf12 100644
--- a/src/renderer/components/watch-video-info/watch-video-info.js
+++ b/src/renderer/components/watch-video-info/watch-video-info.js
@@ -4,7 +4,7 @@ import FtCard from '../ft-card/ft-card.vue'
 import FtIconButton from '../ft-icon-button/ft-icon-button.vue'
 import FtShareButton from '../ft-share-button/ft-share-button.vue'
 import FtSubscribeButton from '../ft-subscribe-button/ft-subscribe-button.vue'
-import { formatNumber, openExternalLink } from '../../helpers/utils'
+import { formatNumber, openExternalLink, showToast } from '../../helpers/utils'
 
 export default defineComponent({
   name: 'WatchVideoInfo',
@@ -125,6 +125,28 @@ export default defineComponent({
       return this.$store.getters.getHideVideoViews
     },
 
+    favoritesPlaylist: function () {
+      return this.$store.getters.getFavorites
+    },
+
+    inFavoritesPlaylist: function () {
+      return this.favoritesPlaylist.videos.some((video) =>
+        video.videoId === this.id
+      )
+    },
+
+    favoriteIconTheme: function () {
+      return this.inFavoritesPlaylist ? 'base favorite' : 'base'
+    },
+
+    favoritesText: function () {
+      return this.inFavoritesPlaylist ? this.$t('User Playlists.Unsave from Favorites') : this.$t('User Playlists.Save to Favorites')
+    },
+
+    inUserPlaylist: function () {
+      return this.playlistTypeFinal === 'user' || this.selectedUserPlaylist != null
+    },
+
     showPlaylists: function () {
       return !this.$store.getters.getHidePlaylists
     },
@@ -311,7 +333,58 @@ export default defineComponent({
       this.showAddToPlaylistPromptForManyVideos({ videos: [videoData] })
     },
 
+    toggleSaveToFavorites: function () {
+      if (this.inFavoritesPlaylist) {
+        this.removeFromFavorites()
+      } else {
+        this.addToFavorites()
+      }
+    },
+
+    addToFavorites: function () {
+      const videoData = {
+        videoId: this.id,
+        title: this.title,
+        author: this.channelName,
+        authorId: this.channelId,
+        description: this.description,
+        viewCount: this.viewCount,
+        lengthSeconds: this.lengthSeconds,
+      }
+
+      const payload = {
+        _id: 'favorites',
+        videoData: videoData
+      }
+
+      this.addVideo(payload)
+      // Update playlist's `lastUpdatedAt`
+      this.updatePlaylist({ _id: 'favorites' })
+
+      showToast(this.$t('Video.Video has been saved'))
+    },
+
+    removeFromFavorites: function () {
+      const payload = {
+        _id: 'favorites',
+        videoIds: [this.id]
+      }
+
+      try {
+        this.removeVideos(payload)
+        // Update playlist's `lastUpdatedAt`
+        this.updatePlaylist({ _id: 'favorites' })
+        showToast(this.$t('Video.Video has been removed from your saved list'))
+      } catch (e) {
+        showToast(this.$t('User Playlists.SinglePlaylistView.Toast.There was a problem with removing this video'))
+        console.error(e)
+      }
+    },
+
     ...mapActions([
+      'addVideo',
+      'removeVideos',
+      'updatePlaylist',
       'openInExternalPlayer',
       'downloadMedia',
       'showAddToPlaylistPromptForManyVideos',
diff --git a/src/renderer/components/watch-video-info/watch-video-info.vue b/src/renderer/components/watch-video-info/watch-video-info.vue
index af56b5c905a90..9bf99231aea21 100644
--- a/src/renderer/components/watch-video-info/watch-video-info.vue
+++ b/src/renderer/components/watch-video-info/watch-video-info.vue
@@ -81,6 +81,14 @@
       </div>
       -->
       <div class="videoOptions">
+        <ft-icon-button
+          v-if="!isUpcoming"
+          :title="favoritesText"
+          :icon="['fas', 'star']"
+          class="option"
+          :theme="favoriteIconTheme"
+          @click="toggleSaveToFavorites"
+        />
         <ft-icon-button
           v-if="showPlaylists && !isUpcoming"
           :title="$t('User Playlists.Add to Playlist')"
diff --git a/src/renderer/scss-partials/_ft-list-item.scss b/src/renderer/scss-partials/_ft-list-item.scss
index 607554af451b4..ae701973e8196 100644
--- a/src/renderer/scss-partials/_ft-list-item.scss
+++ b/src/renderer/scss-partials/_ft-list-item.scss
@@ -158,6 +158,15 @@ $watched-transition-duration: 0.5s;
       justify-content: flex-end;
       block-size: fit-content;
     }
+
+    .playlistIcons:not(.inUserPlaylist) {
+      grid-auto-flow: row;
+      justify-content: flex-start;
+      align-content: flex-start;
+      gap: 3px;
+    }
+
+    .favoritesIcon,
     .addToPlaylistIcon,
     .trashIcon,
     .upArrowIcon,
@@ -353,24 +362,28 @@ $watched-transition-duration: 0.5s;
   }
 
   .playlistIcons,
+  .favoritesIcon,
   .externalPlayerIcon {
     opacity: $thumbnail-overlay-opacity;
   }
 
   @media (hover: hover) {
     &:hover .addToPlaylistIcon:not(.alwaysVisible),
+    &:hover .favoritesIcon:not(.alwaysVisible),
     &:hover .externalPlayerIcon,
-    &:focus-within .addToPlaylistIcon:not(.alwaysVisible),
-    &:focus-within .externalPlayerIcon {
+    &:has(:focus-visible) .addToPlaylistIcon:not(.alwaysVisible),
+    &:has(:focus-visible) .favoritesIcon:not(.alwaysVisible),
+    &:has(:focus-visible) .externalPlayerIcon {
       opacity: $thumbnail-overlay-opacity;
     }
 
     &:hover .optionsButton,
-    &:focus-within .optionsButton {
+    &:has(:focus-visible) .optionsButton {
       opacity: 1;
     }
 
     .addToPlaylistIcon:not(.alwaysVisible),
+    .favoritesIcon:not(.alwaysVisible),
     .externalPlayerIcon,
     .optionsButton {
       opacity: 0;
diff --git a/src/renderer/store/modules/playlists.js b/src/renderer/store/modules/playlists.js
index 0f55dcfbace12..ca36404ca6f64 100644
--- a/src/renderer/store/modules/playlists.js
+++ b/src/renderer/store/modules/playlists.js
@@ -22,24 +22,18 @@ const state = {
   defaultPlaylists: [
     {
       playlistName: 'Favorites',
-      protected: false,
+      protected: true,
       description: 'Your favorite videos',
       videos: [],
       _id: 'favorites',
-    },
-    {
-      playlistName: 'Watch Later',
-      protected: false,
-      description: 'Videos to watch later',
-      videos: [],
-      _id: 'watchLater',
-    },
+    }
   ],
 }
 
 const getters = {
   getPlaylistsReady: () => state.playlistsReady,
   getAllPlaylists: () => state.playlists,
+  getFavorites: () => state.playlists.find(playlist => playlist._id === 'favorites'),
   getPlaylist: (state) => (playlistId) => {
     return state.playlists.find(playlist => playlist._id === playlistId)
   },
@@ -253,9 +247,6 @@ const actions = {
         const favoritesPlaylist = payload.find((playlist) => {
           return playlist.playlistName === 'Favorites' || playlist._id === 'favorites'
         })
-        const watchLaterPlaylist = payload.find((playlist) => {
-          return playlist.playlistName === 'Watch Later' || playlist._id === 'watchLater'
-        })
 
         const defaultFavoritesPlaylist = state.defaultPlaylists.find((e) => e._id === 'favorites')
         if (favoritesPlaylist != null) {
@@ -277,26 +268,6 @@ const actions = {
           }
         }
 
-        const defaultWatchLaterPlaylist = state.defaultPlaylists.find((e) => e._id === 'watchLater')
-        if (watchLaterPlaylist != null) {
-          // Update existing matching playlist only if it exists
-          if (watchLaterPlaylist._id !== defaultWatchLaterPlaylist._id || watchLaterPlaylist.protected !== defaultWatchLaterPlaylist.protected) {
-            const oldId = watchLaterPlaylist._id
-            watchLaterPlaylist._id = defaultWatchLaterPlaylist._id
-            watchLaterPlaylist.protected = defaultWatchLaterPlaylist.protected
-            if (oldId === defaultWatchLaterPlaylist._id) {
-              // Update playlist if ID already the same
-              DBPlaylistHandlers.upsert(watchLaterPlaylist)
-            } else {
-              dispatch('removePlaylist', oldId)
-              // DO NOT use dispatch('addPlaylist', ...)
-              // Which causes duplicate displayed playlist in window (But DB is fine)
-              // Due to the object is already in `payload`
-              DBPlaylistHandlers.create(watchLaterPlaylist)
-            }
-          }
-        }
-
         commit('setAllPlaylists', payload)
       }
       commit('setPlaylistsReady', true)
@@ -417,9 +388,9 @@ const mutations = {
   },
 
   removeVideos(state, payload) {
-    const playlist = state.playlists.find(playlist => playlist._id === payload.playlistId)
+    const playlist = state.playlists.find(playlist => playlist._id === payload._id)
     if (playlist) {
-      playlist.videos = playlist.videos.filter(video => payload.videoId.indexOf(video) === -1)
+      playlist.videos = playlist.videos.filter(video => !payload.videoIds.includes(video.videoId))
     }
   },
 
diff --git a/static/locales/en-US.yaml b/static/locales/en-US.yaml
index c26943a73c73c..0b8ab72104abd 100644
--- a/static/locales/en-US.yaml
+++ b/static/locales/en-US.yaml
@@ -147,6 +147,8 @@ User Playlists:
   Create New Playlist: Create New Playlist
 
   Add to Playlist: Add to Playlist
+  Save to Favorites: Save to Favorites
+  Unsave from Favorites: Unsave from Favorites
   Move Video Up: Move Video Up
   Move Video Down: Move Video Down
   Remove from Playlist: Remove from Playlist
@@ -707,7 +709,6 @@ Video:
   Remove From History: Remove From History
   Video has been marked as watched: Video has been marked as watched
   Video has been removed from your history: Video has been removed from your history
-  Save Video: Save Video
   Video has been saved: Video has been saved
   Video has been removed from your saved list: Video has been removed from your saved list
   Open in YouTube: Open in YouTube